Lenders that cancelled a PPP loan in SBAâs ETRAN system due to the lenderâs data input error or made a data input error in the SBA Loan Approval Amount of a PPP loan on ETRAN will use this form to request that the SBA Loan Approval Amount be corrected or that an erroneously cancelled loan be reinstated. SBA will use the information provided to evaluate the nature of the lenderâs error and to determine whether the SBA Loan Approval Amount should be corrected or whether the loan should be reinstated.
December 9, 2020
Susan Minson
SBA Desk Officer
Office of Management and Budget
Dear Ms. Minson:
Pursuant to the Office of Management and Budget (OMB) procedures established at 5 CFR 1320, SBA requests that the collection of information titled, Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan, be processed in accordance with section 1320.13, Emergency Processing. SBA has determined that this information must be collected prior to the expiration of time periods established under Part 1320, and that this information is essential to the SBAâs ability to evaluate lendersâ requests for reinstatement of PPP loans that were cancelled in SBAâs ETRAN system due to lendersâ data input errors and/or correction of lendersâ data input errors in the SBA Loan Approval Amount of PPP loans on ETRAN. SBA has been accepting forgiveness decisions from lenders and making forgiveness payments on PPP loans, therefore the ability to collect this information without having to go through the standard Paperwork Reduction Act review procedures will enable SBA to review and correct lendersâ data input errors, if appropriate. This will enhance the integrity of the program and improve SBAâs oversight and monitoring responsibilities.
Lenders that cancelled a PPP loan in SBAâs ETRAN system due to the lenderâs data input error or made a data input error in the SBA Loan Approval Amount of a PPP loan on ETRAN will use this form to request that the SBA Loan Approval Amount be corrected or that an erroneously cancelled loan be reinstated. SBA will use the information provided in the Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan to evaluate the nature of the lenderâs error and to determine whether the loan should be reinstated or whether the SBA Loan Approval Amount should be corrected. Lenders will submit this information directly to one of SBAâs Loan Servicing Centers.
SBA requests approval of the submission by December 10, 2020. Given the inability to seek public comment during such a short timeframe, SBA also requests a waiver from the requirement to publish 60-day and 30-day notices in the Federal Register seeking public comment during the period of OMB review. Although SBA is unable to consult with the public prior to issuing the forms, the Agency has experience designing similar forms in a way that is clear and minimizes burden on respondents.
Sincerely,
Jihoon Kim
Director, Office of Financial Program Operations
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form SBA Form 3512 Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan
3245-PPP Corr Emergency Justification for PPP Lender Certification for Errors 12-09-2020.pdf
3245-PPP Corr Lender Certification for Error Correction-Reinstatement Supporting Statement 12-09-2020.docx
Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan